News & Analysis as of

United Kingdom Commercial Loans

Latham & Watkins LLP

Arbitration or Winding-Up? Privy Council Decision in Sian Participation Corp v. Halimeda Overrules Traditional English Approach

Latham & Watkins LLP on

The decision confirms that an arbitration agreement will be upheld in the face of insolvency proceedings only if it can be shown that the petition debt is genuinely disputed on substantial grounds....more

Latham & Watkins LLP

OECD Announces Reform of the Arrangement on Officially Supported Export Credits

Latham & Watkins LLP on

The Reform will extend tenors and reduce borrowers’ fees to encourage commercial bank lending into energy transition projects. The Organisation for Economic Co-operation and Development (OECD) has agreed a landmark deal...more

Goodwin

The Silicon Valley Bank UK insolvency: FAQ for those doing business with the Bank

Goodwin on

News of the failure of Silicon Valley Bank in the United States has dominated headlines over the last few days. Late yesterday, Friday, 10 March 2023, the Bank of England made an announcement about the status of Silicon...more

WilmerHale

The UK Government’s Bounce Back Loan Scheme - are there lessons to be learned?

WilmerHale on

The UK’s National Audit Office (the “NAO”) has reported that an estimated 11% - a total of £4.9 billion out of £47 billion issued - of the 1.5 million loans granted under the Government’s COVID-19 Bounce Back Loan Scheme (the...more

BCLP

FCA review of sponsors requests: identifying and managing conflicts

BCLP on

The FCA has published Primary Market Bulletin No.37 (PMB) with the findings of its review of conflict queries since the publication of Technical Note 701.3. In general, there have been fewer conflict queries but the review...more

BCLP

FCA finalises its rulebook for the new UK authorised open-ended fund to invest in illiquid assets: the Long Term Asset Fund (LTAF)

BCLP on

The FCA’s Policy Statement published on 25 October 2021 provides feedback to its May 2021 consultation (the Consultation) and sets out the final rules and guidance for the new authorised open-ended fund regime to invest in...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Prudential Regulatory Treatment of UK Business Interruption Loan Schemes (CBILS & CLBILS)

On 27 April 2020, the UK Prudential Regulation Authority (“PRA”) published a statement (the “statement”) on whether the guarantees provided by the UK Government (through the British Business Bank) under the Coronavirus...more

Akin Gump Strauss Hauer & Feld LLP

UK Government Backed Financing 2.0: Coronavirus Large Business Interruption Loan Scheme for UK Businesses Now Live

Further to the Chancellor’s announcement on April 3, 2020, of the introduction of the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the CLBILS that is aimed at larger U.K. businesses is now live and the...more

White & Case LLP

Treasury announces measures to assist companies falling through the cracks: the Coronavirus Large Business Interruption Loan...

White & Case LLP on

While the UK Government, for the most part, has been praised for taking quick, decisive action to limit the impact of the COVID 19 economic shock for consumers and some UK companies, the measures announced to date excluded a...more

Hogan Lovells

UK Coronavirus Business Interruption Loan Scheme: an overview

Hogan Lovells on

The Coronavirus Business Interruption Loan Scheme (CBILS) was launched by the UK government on 23 March 2020 to help businesses to keep operating during the COVID-19 pandemic....more

Latham & Watkins LLP

Credit Insights – What Borrowers and Lenders Should Know About MACs During COVID

Latham & Watkins LLP on

Material adverse change provisions in credit agreements are under much heightened scrutiny in the current circumstances. In the current environment, both corporates and their lenders are trying to assess a fast-moving...more

White & Case LLP

Coronavirus Business Interruption Loan Scheme launches with amended criteria

White & Case LLP on

In our client alert titled "Government-backed initiatives to support businesses impacted by the Coronavirus," we gave an overview of various measures announced by the UK Government to help UK business through the economic...more

Carlton Fields

Ninth Circuit Affirms Summary Judgment in Favor of Boeing and District Court’s Application of Swedish and U.K. Law

Carlton Fields on

The parties entered into a joint venture to launch commercial satellites into space from an ocean platform, which venture ultimately failed. As a result of certain guarantees, Boeing paid $449 million to cover loans made to...more

Hogan Lovells

No passport, no loan?

Hogan Lovells on

The first signs of spring remind us that EU Exit day is fast approaching but a deal between the EU and the UK is proving elusive. If passporting rights are lost what impact will that have on existing and new corporate loans...more

BCLP

Taking stock! As UK businesses are ramping up their Brexit stockpiling we look at whether ABL could help

BCLP on

With a little more than a month to go until the UK is due to leave the EU, a number of leading retailers and wholesalers have announced that they are building up stock in case Britain exits without a deal. Companies such as...more

A&O Shearman

No duty of rationality implied in “absolute discretion” to demand early repayment of commercial loan

A&O Shearman on

The English High Court has provided guidance on implying a Socimer/Braganza duty of rationality into contractual discretions in a commercial context, concluding here that no duty of rationality should be implied or construed...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Unbowed by personal attacks from the White House, Fed Chair Jerome Powell delivered remarks to the Economic Club of New York on Wednesday that markets used as an excuse to jump nearly 600 points by the closing bell.  ...more

Hogan Lovells

Secured creditors are not left out in the cold

Hogan Lovells on

In the recent case of Kevin Taylor v Van Dutch Marine Holding Ltd and others, the High Court decided that the exercise of existing rights by a secured creditor should not be regarded as a disposal by a defendant, and as a...more

Latham & Watkins LLP

Penalty Clauses in Project Finance Transactions

Latham & Watkins LLP on

A number of recent English court decisions have recast the test for determining when a contractual provision may be unenforceable under English law as a “penalty clause”. The rule against penalty clauses is particularly...more

A&O Shearman

UK Regulator Concerned that Loan-Based Crowdfunding Platforms may be Facilitating Loans to Lending Business that are not Properly...

A&O Shearman on

The Financial Conduct Authority has published a letter addressed to the CEOs of firms operating a loan-based crowdfunding platform about concerns that the platforms may be facilitating loans to lending businesses that do not...more

20 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide